DaVita Inc. announced the final results of the self-tender offer the company issued to buy its common shares for $1.2 billion in cash.
The Denver-based company bought 21,801,975 of its common shares for $56.50 each.
It accepted all these shares for about $1.2 billion, excluding fees and expenses related to the tender offer. DaVita also accepted for repurchase 563,037 shares under its right to buy additional common shares, given that the number of shares does not exceed 2% of the total number of DaVita's outstanding common stock, without extending or amending the offer.
The purchase was a modified Dutch auction tender offer. This allowed the company's shareholders to indicate how many shares and at what price within DaVita's specified range they plan to tender.
The company started the self-tender offer in July. The offer expired at midnight ET on Aug. 16, the company said in a press release.
DaVita provides kidney dialysis services for patients with chronic kidney failure or end-stage renal disease.
Credit Suisse Securities (USA) LLC is the dealer-manager for the tender offer, while Georgeson LLC and Computershare are serving as information agent and depositary, respectively.
